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Sep 30, 2024
Smartfinancial Q3 2024 Earnings Report
SmartFinancial's financial performance improved in Q3 2024, marked by increased net income and operating earnings
Key Takeaways
SmartFinancial reported a strong third quarter in 2024, with net income reaching $9.1 million, or $0.54 per diluted common share. This represents a significant increase compared to the $2.1 million, or $0.12 per diluted common share, reported in the same quarter of the previous year. The company's operating earnings also rose to $9.1 million, or $0.54 per diluted common share, driven by net organic loan and lease growth and margin expansion.
Net income was $9.1 million, or $0.54 per diluted common share.
Operating earnings were $9.1 million, or $0.54 per diluted common share.
Net organic loan and lease growth of $144 million, representing a 16% annualized quarter-over-quarter increase.
Net tax equivalent interest margin expanded by 14 basis points to 3.11%.
Smartfinancial
Smartfinancial
Smartfinancial Revenue by Segment
Revenue by Segment
Service Charges on Deposit Accounts Revenue
CapyFin.comInvestment Services Revenue
CapyFin.comInsurance Commissions Revenue
CapyFin.comInterchange and Debit Card Fees Revenue
CapyFin.com Forward Guidance
SmartFinancial is confident in its ability to further enhance profitability and deliver strong tangible book value per share growth.